This "Asset Search News Roundup" discusses a letter rogatory from Italian prosecutors and the recent U.S. fines issued in the case involving India’s Satyam Computer Services.

• A letter rogatory filed April 1st in federal court by the U.S. Attorney, reveals that Italian prosecutors are investigating the Delaware office of a company called "BACKER & MCKENZIE".  The letter rogatory seems to examine whether two residents of Brescia, Italy, might have fraudulently conveyed the proceeds of a phony invoicing scheme into a "BACKER & MCKENZIE" Swiss financial account.

• Satyam Computer Services Ltd. has agreed to pay the SEC a $10 million dollar fine to settle U.S. charges arising from a suspected securities and accounting fraud case.  Satyam’s $10 million dollar fine is memorialized by the attached Consent and Undertaking, dated March 31, 2011. Satyam’s former auditors, PricewaterhouseCoopers of India will similarly pay a $6 million fine to the SEC and another $1.5 million fine to the Public Company Accounting Oversight Board.  These fines are respectively mentioned by two administrative decisions:

  (To Enlarge, Click On The Images)

  

Copyright 2011 Fred L. Abrams